PCS Edventures!.com designs and provides technology-based STEM educational programs for the K-12 education market.

According to the press release dated on September 18, 2010, the Complaint asserts violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. Particularly, the Complaint alleges that the Company and certain of its officers and directors issued materially false and misleading statements during the Class Period by fabricating the existence of a lucrative contract with a Saudi Arabian partner for the sale of product to the Kingdom of Saudi Arabia, when in fact no such contract or agreement was in place or likely to be put into place.

On February 24, 2011, Judge Candy W. Dale granted the motion to appoint Moustafa Salem as lead Plaintiff, and Robbins Umeda as lead Counsel and Gordon Law Offices as liaison Counsel.

On June 10, 2011, the District Court released an order granting an unopposed motion to dismiss without prejudice against an individual Defendant.

According to the docket entry order filed on September 8, 2011, the Court has been informed that the parties have reached a settlement and that settlement papers are forthcoming. On September 29, the parties entered into a Stipulation of Settlement. The Court granted preliminary approval of the Settlement on October 5.

On February 22, 2012, a Final Judgment and Order of Dismissal with Prejudice along with an Order Awarding Attorneys' Fees and Reimbursement of Litigation Expenses was entered into the Court’s docket.